Agents said Burj Khalifa has had a positive effect on Downtown Dubai and the overall property market and economy in the emirate.
They believe Burj Khalifa will create job opportunities which are heavily needed after the wave of restructuring and downsizing that many local and global companies went through during the past one year in Dubai.
"For example, the Armani Hotel, which is spread over 12 floors of Burj Khalifa offering 160 guest-rooms, will employ 600 staff. The early investors in Burj Khalifa and the surrounding areas have benefited from capital appreciation and gains they have made," said Managing Director, Harbor Real Estate, Mohammad Alwadiya.
He added that just a few months before the launch of Burj Khalifa, there has been a noticeable rise in the level of activity in sales and leasing transactions in and around the tower.
"This increase in activity has benefited all the stakeholders in the real estate field and generated a good positive buzz in the marketplace," he said.
According to Better Homes, the Dubai Fountain had a more positive impact on the Downtown Dubai development as it revitalized the area and attracted more interest and created more public awareness.
Emirates Business
